Daan Struyven Says Mideast Remains a ‘Highly Uncertain’ Environment for Oil

Goldman Sachs commodities co-head Daan Struyven said the Middle East remains a “highly uncertain environment” for oil, despite a cease-fire between the US and Iran and oil tankers moving through the Strait of Hormuz, according to Bloomberg. Struyven said risks around oil remain “very, very significant.” He also said China’s oil import weakness is not sustainable and that the country will aim to restock oil supplies and turn to other energy sources after a recent energy supply shock.